Answer:
This amount will be reached in 1 year and 2 months, that is, in 14 months.
Explanation:
Given that 1 paisa is 1 cent of a rupee, at an increase of 2 paisa per rupee per month we are talking about an interest of 2% per month, which annualized is equal to 24% per year (12 x 2).
Thus, given that the initial amount is Rs $ 4800, to determine the period of time in which said interest will take the amount to Rs $ 5760 it is necessary to perform the following calculation:
4800 x 1.02 x X = 5760
4896 x X = 5760
X = 5760/4896
X = 1.17
Thus, this amount will be reached in 1.17 years, with which to calculate the number of months the following calculation must be performed:
1 = 12
0.17 = X
0.17 x 12 = X
2 = X
Thus, this amount will be reached in 1 year and 2 months, that is, in 14 months.